Ashtrom Renewable Energy has commenced commercial operations at the 306 MW Tierra Bonita solar project, located in Pecos County, Texas. 

The project was established at a total cost of $435 million, of which the company invested $165 million in equity.

“We are thrilled to announce the early commencement of commercial operations for the Tierra Bonita solar project, a key milestone for Ashtrom Renewable Energy,” says Yitsik Mermelstein, CEO of Ashtrom Renewable Energy. 

“This achievement not only underscores our ability to deliver utility-scale renewable energy projects, but also reflects our commitment to sustainable growth within just three years of establishing the company. Through innovative agreements like the sale and transfer of production tax credits under the Inflation Reduction Act, we are further maximizing the project’s financial and environmental impact.”

The company has secured the sale of 60% of the generated electricity, or 180 MW, through a 20-year PPA with CPS Energy. The remaining electricity will be sold on the free market.

Ashtrom Renewable Energy is a subsidiary of Ashtrom Group.